Crypto Price Analysis Apr-17: ETH, XRP, ADA, BNB, and HYPE

This Friday, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in greater detail.

Ethereum (ETH)

Ethereum had a good week, closing 6% higher and touching the key $2,400 resistance. Sellers pushed back once the price arrived there, but this is not over yet.

If bulls push again against the key resistance, they could trigger a major breakout above $2,400, allowing ETH to rally much higher toward the next key target at $2,800.

Looking ahead, Ethereum needs to hold $2,400 as key support to maintain its current bullish momentum. That means buyers have to keep up the pressure as any hesitation will allow sellers to regain control.

Ripple (XRP)

XRP is also up 6% this week after a major buying offensive that recaptured the $1.4 level and turned it into support. As long as the price can hold above this key level, bulls have the upper hand.

This latest push higher opens the way for this cryptocurrency to move towards $1.6, which is the next key resistance on the chart. The last time this level was tested was mid-March and back then, sellers retained the upper hand.

Looking ahead, XRP has a major opportunity to finally break higher and stop the current downtrend that has been ongoing for months. The success at $1.4 could carry over and support a breakout beyond $1.6. If so, that could trigger a major rally towards $2.

Cardano (ADA)

ADA managed only a modest 1% gain this week after the price bounced up and down without a decisive move. This hesitation is concerning, but as long as the support at $0.24 holds, bulls still have a chance to take this cryptocurrency higher.

The current resistance is at $0.28, and buyers have not tested this level in over a month. That shows weakness, especially because the price has also been making lower highs.

Looking ahead, Cardano needs to break away from its current downtrend and begin a reversal if it wants to escape lower price levels in the future. That starts with a clear break above $0.28.

Binance Coin (BNB)

BNB closed the week 5% higher after buyers finally pushed the price away from the key $580 support. At the time of this post, the price is around $630 and is aiming for the $690 resistance level.

While bulls seem to have the upper hand on price right now, buy volume has been rather flat, with no sustained increase. This is less than ideal if BNB wants to break the current resistance.

Looking ahead, Binance Coin may end up in a flat range if the volume does not pick up. That means the price could be stuck between $580 and $690 for quite a while longer if neither buyers nor sellers show conviction to push the price beyond its current limits.

Hype (HYPE)

HYPE closed the week 7% higher, but appears to be struggling in its bullish momentum since sellers are becoming more aggressive after the price moved above $40. Every push higher is now quickly met by sellers.

It seems there is tough resistance around $45, and until it is cleared, buyers will struggle to make and sustain new highs. Another concerning aspect is the fact that the price has formed a large bearish wedge since January.

Looking ahead, this cryptocurrency needs to break above this wedge if it wants to reinforce the current rally and aim for $50. Any weakness here could be a major opportunity for sellers to return in force and send HYPE lower towards its key support levels at $35 and $30.

The post Crypto Price Analysis Apr-17: ETH, XRP, ADA, BNB, and HYPE appeared first on CryptoPotato.